Part 1:
1. eBay carries no inventory and therefore has no storage and delivery costs. Customers take on a number of functions which mean that eBay does not incur conventional operating costs in a number of areas.
2. in addition to providing storage and delivery, eBay’s customers are its product development, market research, merchandising and sales department.
3. eBay began in 1995 when Pierre Omidyar created Auction Web, an internet-based auction site, partly to help his girlfriend to trade her products.
4. interview every single person leaving every store, post a list of what each thought of the shopping experience, ask them to write up a merchandising plan and call suppliers to arrange deliveries - and oh, by the way, could they keep an eye out for shoplifting.
5. No, it does not.
Part 2
1. of
2. alike
3. many
4. from
5. more
6. and
7. than
8. such
9. because
10. entry
Part 3
1. Economics not only studies human behavior as a relationship between unlimited wants and limited resources, but also helps us to make a good choice.
2. Market is a system of conditions that permits buyers who have a demand and sellers who have a supply of a specific product work together.
3. The distribution of income is determined by the ownership of factors of production and by their prices – wages of each kind of labor, rents of land, royalties of books, and various returns to capital.
4. Non-physical money consists of cashable instruments (or instrument of payment) and cashless money (quasi money, or instruments of credit, which is payable only at a certain date in the future).
5. Main duties of investment banks are providing investment consultancy, underwriting new issues of stocks or corporate bonds and trading them on the primary markets, buying and selling securities on secondary markets as brokers.
6. Public finance is concerned with how governments raise money, how that money is spent, and the effects of these activities